Railroad Rehabilitation and Improvement Financing Equity Act

II 117TH CONGRESS 1ST SESSION S. 1818 To require the Secretary of Transportation to repay the credit risk premiums paid with respect to certain railroad infrastructure loans after the obliga- tions attached to such loans have been satisfied. IN THE SENATE OF THE UNITED STATES MAY 25, 2021 Mr. HICKENLOOPER (for himself and Mr. BENNET) introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation A BILL To require the Secretary of Transportation to repay the credit risk premiums paid with respect to certain railroad infrastructure loans after the obligations attached to such loans have been satisfied. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Railroad Rehabilitation 4 and Improvement Financing Equity Act’’. 5 VerDate Sep 11 2014 01:57 Jun 11, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1818.IS S1818 kjohnson on DSK79L0C42PROD with BILLS 2 •S 1818 IS SEC. 2. CREDIT RISK PREMIUMS. 1 Section 502(f) of the Railroad Revitalization and 2 Regulatory Reform Act of 1976 (45 U.S.C. 822(f)) is 3 amended by adding at the end the following: 4 ‘‘(5) REFUND OF PREMIUMS.—The Secretary 5 shall repay the credit risk premium of each loan in 6 cohort 3 (as defined by the Department of Trans- 7 portation’s memorandum to the Office of Manage- 8 ment and Budget dated November 5, 2018), with in- 9 terest accrued thereon, not later than 60 days after 10 the date on which all obligations attached to each 11 such loan have been satisfied. For each such loan for 12 which obligations have already been satisfied, as of 13 the date of enactment of the Railroad Rehabilitation 14 and Improvement Financing Equity Act, the Sec- 15 retary shall repay the credit risk premium of each 16 such loan, with interest accrued thereon, not later 17 than 60 days after the date of the enactment of such 18 Act.’’. 19 Æ VerDate Sep 11 2014 01:57 Jun 11, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1818.IS S1818 kjohnson on DSK79L0C42PROD with BILLS